Ramaco Resources, Inc. Announces Increase and Term Extension of Revolving Credit Facility
Ramaco Resources, Inc. - Class B (METCB)
Company Research
Source: PR Newswire
LEXINGTON, Ky., May 8, 2024 /PRNewswire/ --The Company's principal lender, KeyBank, N.A. ("KeyBank"), has now led a bank syndicate that increased the Company's overall credit facility to $275 million (the "Facility"). This consists of an aggregate revolving commitment of $200 million with an accordion feature for an additional $75 million available upon mutual agreement. The term of the Facility has also been extended to five years expiring in 2029.Ramaco Resources, Inc. (NASDAQ: METC, METCB) ("Ramaco" or the "Company") announced that its principal bank lender, KeyBank, has amended the Company's existing Revolving Credit Agreement to increase the overall commitments under the Facility to $200 million. The Facility also provides the Company an ability to access an additional $75 million through an accordion feature, subject to its terms and conditions. The commitments under the previous Facility were $125 million with a $50 million accordion feature. In addition, the maturity date was
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